It’s not surprising that America’s oil and gas sector is not totally enthusiastic about President Biden’s $2.25 trillion American Jobs Plan which incorporates raising corporate taxes and, should it gain Congressional approval, designation of monies to facilitate the country’s transition from fossil fuels towards clean energy.

A key and novel feature of the American Jobs Plan is the integration of both climate and energy policy. This holistic approach in policymaking and implementation marks a distinct departure from previous administrations.

Whilst many energy lobby groups support objectives such as improvement in the range of incentives for capturing and storing carbon dioxide, they seek clarification of how hydrocarbons will fit into the President’s “build back better” mandate for the country’s infrastructure and economy.

For example, Texas Independent Producers & Royalty Owners Association President Ed Longanecker commenting on the plan states, “While ambitious and aimed in the right direction — bolstering America’s infrastructure – President Biden’s American Jobs Plan overlooks the backbone of America’s energy system: pipelines.”

One thing is clear, given the power of the fossil fuel lobby in Congress; President Biden is going to have a tough time passing the required legislation to implement his jobs and infrastructure policies.